How to determine the reasonable price for a used car

07/03/2019

Posted by: Oluwaseun Adeniji

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Used cars are favored by many Nigerians, but its buying process can be tricky at times. Go right in and equip yourself before going out into the market for one.

Buying a used car has been a go-to option for many Nigerians since they can buy a more luxury car with the same amount of money they would spend on a new one, with benefits and sensation basically the same. But unlike new cars when you can be assured of the brand-new condition of the car and also get reimbursed should it has any defect, old cars are riskier since not many used car dealers offer full insurance for their products. 

With that said, you should be more educated when it comes to buying an old car. Below are some tips and procedures that you should do in order to determine a reasonable price for a used car, provided by Naijauto.com - the biggest car website in Nigeria!

1. Know the details

First, go to the site of the auto dealer and learn everything you can about the car. If you're more cautious, you can go to online forums and ask questions about it. It's no coincidence that the researching period before buying a car can last several months due to the complexity of its nature. 

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Ask whoever you can contact to gather sufficient information for your buying

Also, you should put the "price range" queue to google and come up with your own average number of the current value of the car in the market. By doing this, you'll be more educated and have more leverage when it comes to negotiating the price at the dealer location.

2. Check the recall list

Sometimes you'd see on the news that somewhere cars are being called back because of manufacturer's false. Maybe it's serious, maybe it's lenient. Either way, you need to know these things if you don't want to be strongarmed during the negotiation period.

recall-alert

Some cars might look normal on the surface but hide serious defects underneath

>>> Our suggestion to check recall list? See this! How do you know your Lexus ES listed in Toyota recall list 2019?

3. Give it a field test

It goes without saying that you should first take a look at the car to determine its condition. Does it have any noticeable dents and/or marks which require costly reparation later on? But to be fair, most reseller would cover any obvious signs so don't raise your hope up just yet if you don't see any dent.

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Don't just trust your eyes, give that baby a go and see how it performs

Second, drive it onto the street and give it a few trips around the block. Does the driving sensation feels right and is in line with the mileage shown at the odometer? Does the brake respond quickly? Does it produce any troubling sounds? etc. You need to listen closely to every sign you can to determine the real condition of the vehicle.

4. Negotiate the price

Now, when you've gathered all the information you need online and offline, it's time to make comparisons. For example, you've found several cars online with the same defects and condition and was priced at a lower number, you can use that as your advantage. In order to this, you need to do thorough research before you attempt to get to the buying site.

>>> Learn from others' mistakes! Read this post! I made these 5 dumb mistakes when buying used cars

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Now with all the leverages you have, it's time to close the deal in your favor

>>> For more useful advice, go to Car buying & selling tips on Naijauto.com!

Oluwaseun Adeniji

Oluwaseun Adeniji

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Oluwaseun Adeniji is a passionate writer and a poet with special interest in writing about cars. He is a master degree holder in international conflict and management. He enjoys feeding the public with the latest auto gist and well researched car reviews. He is also a strong football lover. So, if Oluwaseun is not writing, expect him to be reading about sports.

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